Why is Ardor (ARDR) Coin Pumping? A Breakout Above This Level Suggests It’s Just the Beginning
Ardor is a multichain blockchain platform with a unique parent-child chain architecture. It was created with scalability in mind and aims to solve issues like blockchain bloat and the need for customizable blockchain solutions.
Recently, the price of Ardor’s native token, ARDR, has seen significant gains with more than 25% upward movement in the last 7 days and 17% in 24 hours. Some crypto analysts believe this could be the start of a sustained bull run.
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Positive Technical Analysis
According to @WorldOfCharts1, Ardor has formed a falling wedge pattern on the charts. This is generally considered a bullish reversal indicator. The analyst notes that a breakout above the descending trendline could spark a 2-3x surge in the mid-term.
Fellow trader @JoneMarcote also highlighted the falling wedge, noting that ARDR successfully broke out already. He believes the technical outlook looks “very strong” for future gains.
Fundamentals Support Price Rise
Beyond the technical analysis, Ardor offers differentiated technology that could drive real-world adoption. With interoperable child chains specialized for various uses along with the secure parent chain, Ardor aims to be a flexible blockchain solution for both public and private use cases.
The project also claims to use the first pure proof-of-stake consensus model, ensuring security while avoiding energy intensive mining. As the blockchain space matures, Ardor’s tech may give it an edge against competing platforms.
Bull Run Just Starting?
Given the promising technical setup and Ardor’s unique value proposition, analysts think this rally could have legs. As more investors discover the project, ARDR may continue surging.
Of course, crypto markets remain volatile. But with its recent breakout, Ardor seems poised for more upside. The blockchain underdog has woken up, and experts believe the ARDR pump is just getting started.
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